ACIT v. Bright Star Investment P Ltd.

24 SOT 288Income Tax Appellate Tribunal2008#23882 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,631 Indian tax judgments — from 2016 to 2025.

Judgments citing ACIT v. Bright Star Investment P Ltd.

Income Tax Officer, Ward-11(1), Delhi vs. Hkt Corporation Pvt Ltd, Delhi

The appeal are dismissed

ITA 1036/DEL/2024[2020-21]Status: DisposedITAT Delhi09 Jul 2025AY 2020-21

Bench: Shri Satbeer Singh Godara & Shri S. Rifaur Rahman

Section 143(3)

…that it is not necessary that it should have been capital asset also on the date of its acquisition by the assessee. 7.3.9 For these views, I place reliance on following judgement of Hon'ble Courts. (i) Asstt. CIT v. Bright Star Investments (P.)Ltd. [2008] 24 SOT 288 (Mum. - Trib.) -relevant portion of which is reproduced as under: "6. Having heard the rival submissions end from careful perusal of the record, we find that the shares held in stock in trade were converted into investment at the book value shown in the books of accounts. Later on, the shares held in investment were sold and the assessee offered…

M/S. Loknath Saraf Securities Pvt. Ltd., Kolkata vs. ACIT, Circle - 6, Kolkata

In the result, the appeal of the revenue is dismissed as not maintainable and the appeal of the assessee is partly allowed

ITA 418/KOL/2011[2006-07]Status: DisposedITAT Kolkata03 Aug 2016AY 2006-07

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

For Appellant: S/Shri Ashwani Kumar, C.A & A.K. Jain, ARFor Respondent: Shri Aroop Kumar, CIT
Section 143(3)

…s P Ltd in ITA No. 588 of 2011 dated 31.3.2011 rendered by Hon’ble Delhi High Court d) Chaturanan Industries Ltd vs ACIT in ITA No. 4793/Del/2010 for Asst Year 2006-07 dated 25.2.2014 (Delhi Tribunal) e) ACIT vs Bright Star Investment P Ltd reported in (2008) 24 SOT 288 (Mumbai Tribunal) f) Sukarma Finance Ltd vs ACIT in ITA Nos. 3588 & 3589/Del/2010 for Asst Years 2006-07 & 2007-08 dated 2.5.2014. g) CIT vs Gopal Purohit reported in 228 CTR 582 (Bom) 5.2. In response to this, the ld DR argued that the action of the assessee in transferring certain shares from trading portfolio to investment portfolio is a mere…

DCIT, Circle - 6 Kolkata, Kolkata vs. Lokenath Saraf Securities Ltd., Kolkata

In the result, the appeal of the revenue is dismissed as not maintainable and the appeal of the assessee is partly allowed

ITA 300/KOL/2011[2006-07]Status: DisposedITAT Kolkata03 Aug 2016AY 2006-07

Bench: Shri N. V. Vasudevan, Jm & Shri M. Balaganesh, Am]

For Appellant: S/Shri Ashwani Kumar, C.A & A.K. Jain, ARFor Respondent: Shri Aroop Kumar, CIT
Section 143(3)

…s P Ltd in ITA No. 588 of 2011 dated 31.3.2011 rendered by Hon’ble Delhi High Court d) Chaturanan Industries Ltd vs ACIT in ITA No. 4793/Del/2010 for Asst Year 2006-07 dated 25.2.2014 (Delhi Tribunal) e) ACIT vs Bright Star Investment P Ltd reported in (2008) 24 SOT 288 (Mumbai Tribunal) f) Sukarma Finance Ltd vs ACIT in ITA Nos. 3588 & 3589/Del/2010 for Asst Years 2006-07 & 2007-08 dated 2.5.2014. g) CIT vs Gopal Purohit reported in 228 CTR 582 (Bom) 5.2. In response to this, the ld DR argued that the action of the assessee in transferring certain shares from trading portfolio to investment portfolio is a mere…

ACIT v. Bright Star Investment P Ltd. (24 SOT 288) — Cited in 3 Judgments | BharatTax